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Credit-Card-Loan Securities
Set Record With 1996 Deals

a Wall Street Journal Staff Reporter

Updated Jan. 22, 1997 12:01 a.m. ET

NEW YORK -- The quality of credit-card portfolios at many of the nation's banks may be deteriorating, but investors who own bonds backed by credit-card receivables have little to worry about besides their own voracious appetites, according to a new report by Standard & Poor's Corp.

For the second straight year, the rating agency said, the number of publicly issued securities backed by credit-card loans set a record, with 76 deals, valued at $49.6 billion, issued in 1996, an increase in volume of $1 billion for the...